OKCoin showed 15k BTC price due to bug

One of the last Chinese cryptocurrency exchange showed the $15 000 Bitcoin price and drop offline
16 November 2017   368

Yesterday, November 15, due to a technical issue on the platform, the large Chinese cryptocurrency exchange OKCoin began to show the bitcoin price of $ 15,151, after which it went offline. The corresponding screenshots were made by some Twitter users.

CryptoCompare noted that OKCoin got in the break of the space time continuum. 

At the moment of press, OKCoin is online again. Team released official statement regarding this issue.

We sincerely apologise to all OKCoin Users. In response to the inconvenience caused, We would free all trading fees in OKCoin.com from Nov 17 to Nov 24.
 

OKCoin Team

Well, no trading fees for such long period of time is a great compesation to all users. We hope that OKCoin Team won't face any issues in the future.

Bank of America: Cryptocurrencies Are a Threat

Bank of America (BoA) has admitted to US regulators it can not pretend any longer that cryptocurrencies are not a threat
23 February 2018   136

On February 22, the report was filed with the US Securities and Exchange Commission (SEC). It listed a range of economic, geopolitical, and operational risks that the Charlotte, NC-based bank faces as it heads into the new fiscal year. Crypto adoption was on the list for the first time.

Bank of America (BoA), which recently banned purchasing of crypto with credit cards, stated that this and other similar policies could cost the bank clients.

Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.

The second largest bank in the U.S. said that adoption of cryptocurrencies could require the bank to make “substantial expenditures” to update its existing services and remain competitive with upstart firms.

The widespread adoption of new technologies, including internet services, cryptocurrencies, and payment systems, could require substantial expenditures to modify or adapt our existing products and services.

According to the Bank of America, cryptocurrencies could limit the institution’s ability to comply with anti-money laundering regulations.

Eventually, this is one of the first public admissions that financial institutions are beginning to worry that mass cryptocurrency adoption could one day become a reality.